H sold land to his sister for $200,000, The land is used for farming and at...

 

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H sold land to his sister for $200,000, The land is used for farming and at the time of the sale had a market value of $230,000. Two years after the sale the sister sold the land for $250.000. What amount is included in the sister's net income for tax purposes from the sale of the land?l H sold land to his sister for $200,000, The land is used for farming and at the time of the sale had a market value of $230,000. Two years after the sale the sister sold the land for $250.000. What amount is included in the sister's net income for tax purposes from the sale of the land?l

Answer rating: 100% (QA)

Calculation of Net f Joceme fom taxe Iocome puopeses fnom the sale of ... View the full answer